Greenwoods & Herbert Smith Freehills has been advising Wesfarmers Limited on its capital management initiative which was announced on 20 August 2014 with implementation proposed in December 2014. The proposal involves the distribution to shareholders of $1.00 per share and a share consolidation.
The return of capital and the share consolidation are subject to approval by Wesfarmers shareholders at the Annual General Meeting on Thursday, 20 November 2014. If approved, the total amount of the distribution will be approximately A$1,143m.
Director, Head of Corporate and M&A